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Non-Tech : MB TRADING
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To: funk who wrote (4073)2/26/1999 11:52:00 PM
From: Colin Cody  Read Replies (2) of 7382
 
funk, Can you explain WHY the following happens and HOW to avoid it:
(I know this has likely been argued back and forth deep back in this thread, but who could ever find it?) (g)

With MBT I place trades using ISLD. Lets say RMBS was quoted $71 by $71.50 I say to BUY @ a price less than the ASK but not lower than the BID. Maybe $71.125 or $71. SOMETIMES I get a rejection, something that can't be read in the message box says would cross or lock the market, I believe (the message box truncates the message).

When this happens, and I've tried it over and over and over, getting reject after reject, I can simply go through ARCA and with the SAME MMs in the Box and the SAME order I get a fill. ARCA usually seems to take twice as long for a fill to me. ISLD is usually 2 to 5 seconds and ARCA is double that.

But my question is WHY does ISLD not work sometimes? and HOW to FORCE ISLD to accept the order?

Colin
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